Hindustan Zinc announces 2nd interim dividend of ₹19; stock rises 2%
The board of Hindustan Zinc has approved the second interim dividend worth ₹8,028.11 crore.
The board of Hindustan Zinc has approved the second interim dividend worth ₹8,028.11 crore.
The share price of Hindustan Zinc has corrected nearly 40% from its 52-week high of ₹807 touched on May 22, 2024.
The government holds a 29.54% stake in HZL while Vedanta owns 64.92% shares in the metal and mining company, which are largely pledged.
Vedanta’s parent Vedanta Resources (VRL) was looking to sell stake worth $1 billion in the company to Rajiv Jain-led investment firm GQG Partners.
Ind-Ra has downgraded Vedanta’s long-term issuer rating to ‘IND AA-’from ‘IND AA’, while placing it on rating watch with negative implications.
The Vedanta-backed metal company has declared an equity dividend amounting to ₹49.50 per share in the past 12 months